Global Crude oil price of Indian Basket was US$ 46.59 per bbl on 24.11.2016

Global Crude oil price of Indian Basket was US$ 46.59 per bbl on 24.11.2016

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 46.59 per barrel (bbl) on 24.11.2016. This was lower than the price of US$ 46.73 per bbl on previous publishing day of 23.11.2016.

In rupee terms, the price of Indian Basket decreased to Rs. 3198.56 per bbl on 24.11.2016 as compared to Rs. 3199.77 per bbl on 23.11.2016. Rupee closed weaker at Rs. 68.66 per US$ on 24.11.2016 as against Rs. 68.48 per US$ on 23.11.2016. The table below gives details in this regard:

PETROTECH-2016, the 12th International Oil & Gas Conference & Exhibition, to be inaugurated by Prime Minister on December 5, 2016

PETROTECH-2016, the 12th International Oil & Gas Conference & Exhibition, being organised under the aegis of the Ministry of Petroleum & Natural Gas, Government of India, is all set to be inaugurated by Hon'ble Prime Minister, Shri Narendra Modi, at Vigyan Bhawan on December 5, 2016. Shri Dharmendra Pradhan, Minister of State (Independent Charge), Ministry of Petroleum & Natural Gas, will inaugurate the PETROTECH-2016 Exhibition at Pragati Maidan, New Delhi the previous evening on December 4, 2016

As the prime showcase of India's hydrocarbon sector, the three-day mega event will see participation of over 100 eminent speakers and 6,000 delegates from 68 countries, including technologists, scientists, planners and policy-makers, management experts, entrepreneurs, service-providers and vendors. Along with the Conference being held at Vigyan Bhawan, the event will have a concurrent Exhibition spread over 15,000 square metres at Pragati Maidan.

Briefing the media persons, Sh. Dharmendra Pradhan said that PETROTECH has been conceived as a platform where Ministers, experts, CEOs and Regulators can converge to forge mutually beneficially engagement. He hoped that the event which brings the best from all the sections of the oil and gas world, will help optimize its synergies. The Minister said India has emerged as a new engine of global growth and it stands out among the emerging economies. The story of Indian oil and gas sector is a story of interdependence, with 81% of our oil requirement and about 37% of gas requirement being imported. India has acquired hydrocarbon assets in 25 countries. A large number of Ministers from other countries are also taking part in the event. He said that, besides PETROTECH, International Energy Forum – International Gas Union Ministerial Conference is also being organized simultaneously showcasing India’s priority to move towards a gas based economy. In PETROTECH, several other Union Ministers and Chief Ministers of States will also be participating. Sh. Pradhan said that the M/o Petroleum & Natural Gas is playing a key role in this social-economic transformation of the country. He said India is 3rd largest energy consumer in the world and the 12th Edition of PETROTECH will tell the new and evolving India’s story.

Petrotech Conference @ a Glance

PETROTECH-2016 Conference will be held at Vigyan Bhawan, New Delhi, during 5-7 December, 2016. Poised to be the most important energy event in India in recent times, it encompasses the upstream, midstream and downstream sectors of the oil & gas industry, besides special emphasis on emerging sectors such as alternative & renewable energy. With over 100 eminent speakers and 6,000 delegates from 68 countries, the Conference promises to be an intellectually vibrant event.
The theme for this year's Petrotech Conference is 'Hydrocarbons to fuel the future: Choices & Challenges.' With this theme, PETROTECH-2016 aims to explore areas of growth in petroleum technology, exploration, drilling, production & processing, refining, pipeline transportation, petrochemicals, natural gas, petroleum economics, legal and human resource development, marketing, research & development, information technology, safety, health & environment management in the energy sector.

In line with India's growing engagement in the energy domain, 49 ministers from Europe, CIS, MENA, Africa, Latin America and the Caribbean, South East Asia, North America and South Asia have been invited to the Conference:

Confirmed Overseas Ministers as on date

HE Khalid Al-Falih

Minister of Energy, Industry and Mineral Resources

Saudi Arabia

Mr. Al Shairwi

General Manager, Oil & Gas Affairs

Bahrain

H.E. Fayadh Hassan Nima

Acting Minister of Oil

Iraq

H.E. Dr. Mohammed bin SalehAl-Sada

Minister of Energy and Industry

Qatar

H.E. Fernando Bezerra Filho

Minister for Mines and Energy

Brazil

H.E. Alexander Novak

Minister of Energy of the Russian Federation

Russian Federation

H.E. Dr. Emmanuel Ibe Kachikwu

Minister of State for Petroleum Resources

Nigeria

H.E. Eng. Eulogio Del Pino

People's Minister of Petroleum and Mining

Venezuela

H.E. Suhail Mohamed Al Mazrouei

Minister of Energy

United Arab Emirates

H.E. Mohammed Zayed Awad

Minister of Petroleum and Gas

Sudan

H.E. Yiorgos Lakkotrypis

Minister of Commerce, Industry and Tourism

Cyprus

Hon. Hernest Ngoua Boubou

Minister of Industry, Mines and Technological Development

Cameroon

H.E. Mr. Bechir Madet

Minister of Petroleum and Energy

Chad

H.E. Mr. Nasrul Hamid

Minister of Power, Energy and Mineral Resources

Bangladesh

H.E. Chandima Weerakkody

Minister of Petroleum Resources Development

Sri Lanka

H.E. Ashit Kumar Gungah

Minister of Industry, Commerce and Consumer Protection

Mauritius

H.E. Lyonpo Lekey Dorji

Minister of Economic Affairs

Bhutan

Highlights of the Conference:

· 2 Ministerial Sessions on the themes of “Hydrocarbons to fuel the future: Choices and challenges” and “Transforming India: Key initiatives” and a Ministers’ Conclave with participation from overseas ministerial delegations, Union Ministers and Chief Ministers
· 3 Plenary Sessions on “Oil price volatility: challenges and opportunities”, “India rising: resilience and reforms” and “India, manufacturing hub for the hydrocarbon sector” addressed by eminent experts
· 5 Theme Sessions on “Natural Gas: road towards cleaner and prosperous future”, “Beyond Fossil Fuels”, “Gearing for growth: talent requirements and expectations”, “Future of upstream: a techno-managerial challenge” and “The growing prominence of Asian refining”
· CEOs Conclave
· Technical Programme, which will run parallel, will see presentation of papers by over 300 speakers in 39 oral and digital sessions on the latest technological developments in the upstream, midstream and downstream segments of hydrocarbons sector.

Petrotech Exhibition @ a Glance

PETROTECH-2016 Exhibition, being held at Pragati Maidan in New Delhi, is one of the biggest oil & gas exhibitions in Asia and is attracting the participation of nearly 600 exhibitors from over 50 countries, covering 15,000 square meters of exhibition area. There would be 15 country pavilions apart from participation of leading oil & gas companies from across the world.

Exclusive pavilions has been planned to showcase 'Make in India' initiatives and the emerging ‘Renewable Energy' sector in the country.

One of the highlights of the event is the prestigious PETROTECH-2016 Awards. A jury of eminent professionals will judge nominations in various categories to honour exemplary and outstanding contributions of individuals/teams in the oil & gas domain:
· Lifetime Achievement Awards in 5 categories: International, Upstream, Midstream, Downstream, Research & Development
· Special Technical Awards in the categories - Innovation, Project Management, Greening of Oil & Gas Business, Sustainability and Corporate Social Responsibility
· Special Awards in the categories - Make in India, Start-Ups in Hydrocarbon Sector, Women Achievers, etc.

Other Events

A joint meeting of the Ministerial Gas Forum of the International Energy Forum (IEF) and International Gas Union (IGU) is also being planned on the second day of the event with the theme “Gas for Growth.”

The Conference will also host a CEOs Conclave, an exclusive pre-event programme on Women in the Hydrocarbon Industry, and a Yuva Urja Forum for students from reputed institutions.

During PETROTECH-2016, the entire Indian oil & Gas sector comprising both the major private and public sector players are playing host to literally the who's who from the world of hydrocarbons and thus offering a unique opportunity to meet up with potential investors and partners and enabling buyers and sellers to interact in a structured manner in their areas of priority and preference.

PETROTECH-2016 will not only focus on the technical aspects of the oil & gas sector, but also the social, economic and political impacts. The Conference would explore the industry's road map for the future, emphasising India's unique position in the global energy market and its importance as an energy consumer, energy producer and energy innovator.

The 12th Petrotech Conference & Exhibition 2016 is a unique platform for the energy professionals to interact, share & discuss topics of mutual interest with their counterparts from across the globe.

With a galaxy of leading global energy experts exchanging ideas at PETROTECH-2016, let us expect innovative and game changing outcomes for a world that eagerly awaits energy that is available, accessible and affordable to create a future full of peace and prosperity.

More and up to date information about the event can be obtained from the website www.petrotech.in and by following the twitter handle @petrotech2016 or facebook.com/petrotech.in